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The Property Exchange
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Business New Haven
5/13/2002
By: BNH
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NEWS
Prudential Sweeps Clean
ROCKY HILL - Prudential Connecticut Realty Relocation swept three national awards given by the Prudential Real Estate Affiliates Inc. The division received the Client Referral Program and Spirit of Partnership Awards, while Chris Cooke, vice president of business development, was recognized as Relocation Director of the Year. Particular achievements include outstanding performance in generating corporate sales leads, business signed and client focus.
Sales Awardees Honored
Harriet Cooper has announced System 1 Sales Production Awards for 2001. This is the largest alliance of independent real estate companies providing a relocation network in the tri-state area. Receiving awards were Myrna Zelson, President's Award; Phyllis Genel, Circle of Excellence; Patty Bray and Jill Ellis, Platinum Award; Dalia Coleman and Sheila Saltzman, Gold Award; and Maureen Drummy, Rookie of the Year.
SALES & LEASES
Historic building gets new face and new owner
NEW HAVEN - The Street Building at 746 Chapel Street in downtown New Haven was recently sold to Chris Nicotra of Chapel & State LLC for $600,000. The 170-year-old building is located directly across from the new State Street commuter rail station. SPA Associates, owned by Steve Ahern, sold the building to Nicotra who also owns 142 Temple Street and other downtown properties.
The intersection of State and Chapel was one of the city's busiest for nearly two centuries. The Street Building itself also has a storied history, having been owned at one time by the Winchester Bennet estate, founders of Winchester Repeating Arms. Major renovations and improvements are underway. The foyer with marble floor and walls has already been polished and new lighting added. The first and second floors are completely leased. The third and fourth floors will receive new carpeting, ceiling tiles and paint until new tenants fit out the space for occupancy. Bill Silverman of Levey Miller Maretz was the listing and selling agent.
New Tenants for NHSB Building
The New Haven Savings Bank building at 195 Church Street is now up to 97-percent occupancy, according to the Wm. M. Hotchkiss Co. Spa Capital LLC leased 4,852 square feet on the 15th floor; the space was leased from New Haven Savings Bank. Rideworks of Greater New Haven leased an additional 3,464 square feet on the ninth floor and will take occupancy upon completion of renovations. The building has undergone a complete renovation with the lobby having recently been completed. Raymond P. Guerney represented New Haven Savings Bank in the transactions.
Hamden Center Expands by Two
HAMDEN -- Adecco North America LLC, a temporary staffing firm, has signed a five-year lease with options for a portion of the 30,000-square-foot retail complex located in Hamden Center II, 2349 Whitney Avenue. Albert Scafati of Press/Cuozzo Realtors represented the landlord, and Christopher S. Pulie of United Systems Integrators Corp. represented Adecco.
Press/Cuozzo also announced that Headway Technology Resources of New Jersey, LLC has signed a seven-year lease for 3,312 square feet of Class A office space in Hamden Center II office complex. With this lease, the 76,000 s/f building in now fully occupied. The value of the lease is approximately $400,000 and was negotiated by Albert Scafati and Dave Melillo of H. Pearce Co., Realtors.
Branford Redevelopment Gains Traction
BRANFORD - Craig Fuchs, CCIM, of H. Pearce Co., Realtors represented Apex Land, LLC of Maryland and Eleanor Carbone of Branford in their negotiations to sell their adjacent land parcels at 308 & 310 East Main Street, Branford. Al Melotto of Beazley Co.'s Regional Center represented the buyer in the transaction.
The 1.3-acre parcel was purchased by New Castle Realvest for $371,000. The site houses the former Korner Mart convenience store/gas station and a vacant land parcel. It lies just west of Furniture Solutions (formerly the Ethan Allen Furniture Store), diagonally across the street from the Hoyts Cinemas at I-95, exit 55. New Castle Realvest has already removed the canopy over the former gas pump area and will improve the site further for non-gasoline retail uses.
This area has recently seen a resurgence of properties being returned to productive use after many years of availability. In addition to Hoyts and Furniture Solutions, a New Haven Savings Bank branch and a new Mobil/Dandee Donuts convenience store/gas station and a restaurant have found the area attractive. According to Pearce officials, Branford is seeing commercial properties of all sizes turn over as businesses expand within or into town.
Strip Center Sold
STRATFORD - MJB Real Estate Services of Westport announced the listing and sale of a 15,000-square-foot retail strip center at 1345 Barnum Avenue in Stratford. When Mark Brockwell and Dan Johnson took the original listing the center was 70-percent vacant. Today the space is fully occupied with new tenants including Nextel Communications, Hollywood Tans and Subway. MJB is the property manager for the location. The strip center sold for $850,000.
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